Educate me on EFCs!!?

Question

I am a current freshman at a community college and I'm just finishing the fafsa for the first time is there anyway I will be able to recieve help with an EFC of 380? If so please leave as much details as you can. Thanks!

Answer 1

Your EFC is your Expected Family Contribution. This is the amount that your family is expected to contribute to your education. Generally speaking, The total amount of your need for college is determined by subtracting your EFC from the total cost of attendence(tuition, fees, books, and personal expenses). So say it costs $3000 for you to go each year. They will subracts your EFC of $380 to give a need of $2620! Then they will give you scholarships. You have a very low EFC though, and community colleges usually give alot more aid then you really need so  your whole education there may be free to you.

Answer 2

The Expected Family Contribution (EFC) is how much money your family is expected to pay toward your college education for one year.

Typically, the lower your EFC, the more financial aid you will receive. 380 is a very low number. Factors such as family size, number of family members in college, family savings, and current earnings (information you provide on the FAFSA) are used to calculate this figure.

The same information is also sent to the schools you listed on the FAFSA. The financial aid office will use your EFC to determine your financial need.

Need is defined as the difference between the cost of attending college and your EFC:

   Cost of attendance (COA)

– EFC

= Financial need

Based on that, the financial aid office will prepare a financial aid package and craft a financial award letter.

Answer 3

Yes,  that is a very low EFC.  Go to the FAFSA and view your sar report,  after that go to the COMMENTS on the left side.  It will tell you what you may be qualifying for.

Answer 4

efc is the amount of "expected family contribution",  so you  will be eligible for both student loans and a Pell grant. Pell grants are free money from the government, and with a score that low you will probably get a full Pell grant,  the amount is determined by the cost of tuition at your school.